Update on the latest in business:


Stocks wobble on Wall Street ahead of retailer earnings

NEW YORK (AP) — Stocks are wobbling on Wall Street as the market comes off its first weekly loss in six weeks.

The S&P 500 was down 0.1% and the Dow Jones Industrial Average rose less than 0.1%. The Nasdaq fell 0.3%. Banks and other financial companies rose, while technology stocks fell and countered gains elsewhere in the market. The yield on the 10-year Treasury note rose to 1.62%.

Several big retailers will report their latest quarterly results this week, including Home Depot and Walmart on Tuesday and Target on Wednesday. The Commerce Department will release its retail sales report for October on Tuesday.


Reports: Trump selling DC hotel to investment firm for $375M

WASHINGTON (AP) — Donald Trump’s opulent hotel near the White House that drew lobbyists and diplomats seeking favor with the ex-president is being sold to a Miami investment group. That’s according to published reports citing anonymous sources.

The reports say CGI Merchant Group has agreed to pay the Trump Organization $375 million for the rights to the 263-room hotel and rebrand it as a Waldorf Astoria.

The deal is more than $100 million less that the Trump family reportedly tried to get for Pennsylvania Avenue business two years ago before the coronavirus pandemic.


US: Oil, gas leases on hold around New Mexico’s Chaco park

ALBUQUERQUE, N.M. (AP) — The U.S. Department of the Interior says oil and gas leasing within 10 miles of Chaco Culture National Historical Park in New Mexico will be prohibited for the next two years. The temporary moratorium announced today will allow time for the agency to consider a proposal that would withdraw federal land holdings from development in northwestern New Mexico for 20 years.

The announcement comes as environmentalists, some tribes and Democratic politicians pressure Interior Secretary Deb Haaland to take administrative action to protect areas outside the park’s boundaries. Haaland is the first Native American to hold a cabinet position and is from Laguna Pueblo in New Mexico.


Shell wants to move headquarters amid cleaner energy shift

LONDON (AP) — Royal Dutch Shell has proposed moving its headquarters from the Netherlands to the United Kingdom and streamlining its structure in hopes of making it easier to move forward in a world transitioning away from a dependence on fossil fuels.

The company that’s been incorporated in the U.K. with Dutch tax residency says it wanted to move to a more conventional structure to make the company more competitive as it seeks to meet the challenges of shifting toward cleaner energy.

Dutch officials said they were “unpleasantly surprised” by the move. Shell said the changes mean it would no longer use “Royal Dutch” in its name.


Energy summit in UAE after COP26 stresses fossil fuel demand

ABU DHABI, United Arab Emirates (AP) — Energy ministers from across the developing world gathered in the emirate of Abu Dhabi have stressed the need for continued investment in fossil fuel production.

The annual ADIPEC petroleum conference comes just days after these same nations joined around 200 countries in accepting a compromise deal aimed at limiting rising global temperatures and curbing greenhouse emissions.

Energy ministers from two key OPEC nations — the United Arab Emirates and Saudi Arabia — pointed to the rising price of natural gas and the energy crunch this has created in Europe and China as examples of what happens when demand outstrips supply.


Justices turn away VW appeals over emissions scandal suits

WASHINGTON (AP) — The Supreme Court has turned away appeals from Volkswagen that sought to stop state and local lawsuits related to the 2015 scandal in which the automaker was found to have rigged its vehicles to cheat U.S. diesel emissions tests.

The court’s action allows suits by Ohio, Salt Lake County, Utah, and the environmental protection agency in Hillsborough County, Florida, to continue. A lower court said Volkswagen could face “staggering liability” over the state and local claims.

The German-based company argued federal law gives the U.S. Environmental Protection Agency, not state and local officials, authority to regulate its conduct.


Airbus strikes 2nd major aircraft deal of Dubai Air Show

DUBAI, United Arab Emirates (AP) — Airbus has clinched a major deal valued into the billions of dollars to sell 111 new aircraft to the Air Lease Corporation, its second blockbuster order at the Dubai Air Show.

It made the announcement today, saying it has received an order from the Air Lease Corporation for 111 new aircraft. They include 25 A220-330s, 55 A321neos, 20 A321 XLRs, four A330neos and seven A350Fs.

The Dubai Air Show pits Airbus and Boeing, two major manufacturers, against each other in the crucial Mideast market filled with long-haul carriers connecting East and West. The show sees a stream of order and product announcements over its five days.


e-commerce mattress maker Casper sold for about $308 million

UNDATED (AP) — The e-commerce mattress maker Casper is being acquired and taken private for about $308 million. Shares of Casper Sleep Inc. spiked 94% to $6.76 at the opening bell Monday. Durational Capital Management will pay $6.90 per share for Casper’s stock.

The New York City company went public in February 2020 and it’s had a rough debut. After being valued as a private company at more than $1 billion, it began selling shares early last year for $14.50, which put its value as a public company at around $575 million. That was close to its peak. At the close of trading Friday, a share of Casper could be had for $3.55.


Data center REITs fetch big money; CyrusOne sold for $11.5B

UNDATED (AP) — CyrusOne is being acquired for $11.5 billion, the second big sale in recent months of a real estate investment trust focused on data centers.

In August, Blackstone completed a $10 billion acquisition of QTS Realty Trust. Today, CyrusOne said KKR and Global Infrastructure will pay $90.50 per share in a deal worth $15 billion including debt. The Dallas company will be taken private when the deal closes in the second quarter of next year if approved by the company’s shareholders.

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